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Dec 28, 2012
12/12
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in a last bid for a deal, president obama stated his terms face-to-face to top republicans and democrats. >> congressional leaders arrive ted white house this afternoon for their first group meeting with the president since november 16th. vice president biden and treasury secretary timothy geithner also attend. but there was little to suggest the makings of an 11th hour bargain. a source familiar with the meeting told the newshour its president is sticking with his offer from last friday. it included keeping the bush era tax break force the middle class but raising tax rates on incomes over 250,000 dollars a year. president also wants to extend unemployment benefits for some 2 million americans who will lose them in the new year. and a proposal would delay any spending cuts. the president asked for an up or down vote on his plan unless there is a counter proposal that will pass both the house and senate. a little more than an hour after the meeting began, several participants were seen leaving. >> and back at the capital the senate's democratic majority leader harry reid and republican m
in a last bid for a deal, president obama stated his terms face-to-face to top republicans and democrats. >> congressional leaders arrive ted white house this afternoon for their first group meeting with the president since november 16th. vice president biden and treasury secretary timothy geithner also attend. but there was little to suggest the makings of an 11th hour bargain. a source familiar with the meeting told the newshour its president is sticking with his offer from last friday....
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Dec 31, 2012
12/12
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WJZ
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>> we really think that president obama won the campaign in the spring. and what is key is in the west wing, in late may his advisors basically told him we want to spend the fall's budget right now on a really tough tv assault against romney. and the president had to be convinced by the advisors to do this, and obviously he was thinking financially are we going to have that money in the fall or spend it now it was a risk but one that ultimately paid off for president obama. governor romney at that point was still trying to put together the pieces for his primary just ended. >> why didn't he respond? why didn't they refute the attacks about bain capitol? >> one of the issues was governor romney was just not willing to lend himself money as he was in 2008. there was a perception among his senior staff that he didn't want to be seen as buying the election. so in order for him to have gone toe-to-toe with obama at that point in time he would have had to use his own money and that wasn't even broached in the campaign. >> warner: one of the most fascinating thi
>> we really think that president obama won the campaign in the spring. and what is key is in the west wing, in late may his advisors basically told him we want to spend the fall's budget right now on a really tough tv assault against romney. and the president had to be convinced by the advisors to do this, and obviously he was thinking financially are we going to have that money in the fall or spend it now it was a risk but one that ultimately paid off for president obama. governor...
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Jan 1, 2013
01/13
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KRCB
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>> we really think that president obama won the campaign in the spring. and what is key is in the west wing, in late may his advisors basically told him we want to spend the fall's budget right now, on a really tough tv assault against romney. and the president had to be convinced by the advisors to do this, and obviously he was thinking financially are we going to have that money in the fall or spend it now it was a risk but one that ultimately paid off for president obama. governor romney at that point was still trying to put together the pieces for his primary just ended. >> why didn't he respond? why didn't they refute the attacks about bain capitol? >> one of the issues was governor romney was just not willing to lend himself money as he was in 2008. there was a perception among his senior staff that he didn't want to be seen as buying the election. so in order for him to have gone toe-to-toe with obama at that point in time he would have had to use his own money and that wasn't even broached in the campaign. >> warner: one of the most fascinating th
>> we really think that president obama won the campaign in the spring. and what is key is in the west wing, in late may his advisors basically told him we want to spend the fall's budget right now, on a really tough tv assault against romney. and the president had to be convinced by the advisors to do this, and obviously he was thinking financially are we going to have that money in the fall or spend it now it was a risk but one that ultimately paid off for president obama. governor...
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Dec 28, 2012
12/12
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WJZ
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eye 129
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in a last bid for a deal, president obama stated his terms face-to-face to top republicans and democrats. >> congressional leaders arrive ted white house this afternoon for their first group meeting with the president since november 16th. vice president biden and treasury secretary timothy geithner also attend. but there was little to suggest the makings of an 11th hour bargain. a source familiar with the meeting told the newshour its president is sticking with his offer from last friday. it included keeping the bush era tax break force the middle class but raising tax rates on incomes over 250,000 dollars a year. president also wants to extend unemployment benefits for some 2 million americans who will lose them in the new year. and a proposal would delay any spending cuts. the president asked for an up or down vote on his plan unless there is a counter proposal that will pass both the house and senate. a little more than an hour after the meeting began several participants were seen leaving. >> and back at the capital the senate's democratic majority leader harry reid and republican mi
in a last bid for a deal, president obama stated his terms face-to-face to top republicans and democrats. >> congressional leaders arrive ted white house this afternoon for their first group meeting with the president since november 16th. vice president biden and treasury secretary timothy geithner also attend. but there was little to suggest the makings of an 11th hour bargain. a source familiar with the meeting told the newshour its president is sticking with his offer from last friday....
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Dec 27, 2012
12/12
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KBCW
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. >>> president obama will spend the night aboard airforce 1 making a red-eye trip from hawaii to washington. when he arrives on thursday, it's right back to budget negotiations with the fiscal cliff deadline less than a week away. >> reporter: as the president wrapped up his vacation, federal workers trickled back into the nation's capital. the only people who can avert the fiscal cliff, members of the house and senate, have not returned. and in just six days, a 2% payroll tax is set to expire, along with the bush-era tax cuts, shrinking the average worker's paycheck in 2013 by about $1,500. long-term unemployment benefits for about 2 million jobless americans are also set to expire, and $110 billion worth of spending cuts to domestic and defense programs will kick in, forcing layoffs in the public and private sector. if congress doesn't act, all the cuts and new taxes will squish the economy back into a mild recession by mid-2013. the impact of some of these new cuts and taxes wouldn't be felt immediately on january 1st because the irs and other agencies didn't expect it to come to this. i
. >>> president obama will spend the night aboard airforce 1 making a red-eye trip from hawaii to washington. when he arrives on thursday, it's right back to budget negotiations with the fiscal cliff deadline less than a week away. >> reporter: as the president wrapped up his vacation, federal workers trickled back into the nation's capital. the only people who can avert the fiscal cliff, members of the house and senate, have not returned. and in just six days, a 2% payroll tax...
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Dec 27, 2012
12/12
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KPIX
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. >>> president obama will spend the night aboard air force 1, making a red eye trip to washington. with the fiscal cliff deadline less than a week away. what it all means for your paycheck. >> reporter: as the president wrapped up his vacation, federal workers trickled back into the nation's capitol. but the only people who can avert the fiscal cliff, members of the house and senate, have not returned. in just six days, a 2% payroll tax is set to expire, along with the bush-era tax cuts, shrinking the average person's paycheck in 2013 by about $1500. long-term unemployment benefits for about two million jobless americans are also set to expire. and 110 billion worth of spending cuts to both domestic and defense programs will start to kick in, forcing layoffs in the public sector and for some private sector government contractors. economists predict that if congress doesn't act, all those cuts and new taxes will push the economy back into a mild recession by mid 2013. the impact of some of these new cuts and taxes wouldn't be felt immediately on january 1. that's because the irs and
. >>> president obama will spend the night aboard air force 1, making a red eye trip to washington. with the fiscal cliff deadline less than a week away. what it all means for your paycheck. >> reporter: as the president wrapped up his vacation, federal workers trickled back into the nation's capitol. but the only people who can avert the fiscal cliff, members of the house and senate, have not returned. in just six days, a 2% payroll tax is set to expire, along with the bush-era...
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Dec 27, 2012
12/12
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WMAR
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. >> project that obama will be re-elected. >> the election was about social. >> spending cutting, about what kind role government should have in your life. >> number 1. the fiscal cliff. lawmakers saw it coming but didn't bother to pay attention until after the election. had they put politics aside and dealt with it earlier who knows how strong the economy would be right now. >> coming up, a five-days for a woman. she gets the news she has been waiting to hear on her missing teen daughter. >>> and we are taking a look back at the year. the most outstanding student athletes of the year. >>> those and more coming up at six. now a preview of world news at 6:30. >> coming up, american companies saying thank you. thank you america for make this a great made in america christmas. . >>> you have heard of downward facing dog? even if you haven't chances are your children have. we have more on the latest craze for children. yoga. >> reporter: some say yoga is the fattest growing sport in the nation with 20 million practicing regularly. the latest trend is an ever growing number are pint sized. >
. >> project that obama will be re-elected. >> the election was about social. >> spending cutting, about what kind role government should have in your life. >> number 1. the fiscal cliff. lawmakers saw it coming but didn't bother to pay attention until after the election. had they put politics aside and dealt with it earlier who knows how strong the economy would be right now. >> coming up, a five-days for a woman. she gets the news she has been waiting to hear on...
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Dec 29, 2012
12/12
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CNNW
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it forces members of congress and president obama to spend the last few days of 2012 on the job. we want to bring in cnn chief white house correspondent, jessica yelen, we all know they would rather celebrate new year's eve elsewhere. how did they get here? >> reporter: it is such a good question, you know, candy, this grid lock in washington creates the eye-rolling. but the fundamental question goes to the essential differences between the two parties about the role of government, should it be bigger or smaller? about whether we want lower taxes or more of a social safety net. so while we have seen the principles, the president, speaker boehner, and now senator mcconnell and reid trying to get involved in stages in the last few weeks, it has always broken down because they fundamentally disagree about the big ideas over the core of this debate. they're fighting between the two parties. and this could get resolved in a matter of days or weeks. but the big difference, the issues could really take months to work out. >> can it be resolved in the matter of few enough days that they
it forces members of congress and president obama to spend the last few days of 2012 on the job. we want to bring in cnn chief white house correspondent, jessica yelen, we all know they would rather celebrate new year's eve elsewhere. how did they get here? >> reporter: it is such a good question, you know, candy, this grid lock in washington creates the eye-rolling. but the fundamental question goes to the essential differences between the two parties about the role of government, should...
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Jan 1, 2013
01/13
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KCSMMHZ
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eye 128
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that's far higher than obama's original proposal. they have yet to agree to suspend spending cuts. the democrat led senate is expected to pass the bill on new year's eve. the republican led house says it will not vote on the bill before the midnight deadline. members of congress are expected to work on a stop gap measure to prevent any serious fiscal impact. the fiscal cliff has become a term many people even outside the financial markets are talking about. if the u.s. economy falls off this cliff, ripple effects are expected. >> reporter: the term fiscal cliff has been making headlines recently. here's a brief explanation. it's a term used to refer to the economic fallout that might occur because of policy divisions in the u.s. congress. if democrats and republicans cannot come to an agreement on resolving the fiscal cliff by year end, sudden tax increases and drastic budget cuts will take effect and would dramatically slow the u.s. economy. let's look into the two main components of the fiscal cliff. first, taxes. democrats want to let tax cuts for the wealthy to expire but repub
that's far higher than obama's original proposal. they have yet to agree to suspend spending cuts. the democrat led senate is expected to pass the bill on new year's eve. the republican led house says it will not vote on the bill before the midnight deadline. members of congress are expected to work on a stop gap measure to prevent any serious fiscal impact. the fiscal cliff has become a term many people even outside the financial markets are talking about. if the u.s. economy falls off this...
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Jan 1, 2013
01/13
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KRCB
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that's far higher than obama's original proposal. they have yet to agree to suspend spending cuts. the democrat led senate is expected to pass the bill on new year's eve. the republican led house says it will not vote on the bill before the midnight deadline. members of congress are expected to work on a stop gap measure to prevent any serious fiscal impact. the fiscal cliff has become a term many people even outside thfinancial markets are talking about. if the u.s. economy falls off this cliff, ripple effects are expected. >> reporter: the term fiscal cliff has been making headlines recently. here's a brief explanation. it's a term used to refer to the economic fallout that might occur because of policy divisions in the u.s. congress. if democrats and republicans cannot come to an agreement on resolving the fiscal cliff by year end, sudden tax increases and drastic budget cuts will take effect and would dramatically slow the u.s. economy. let's look into the two main components of the fiscal cliff. first, taxes. democrats want to let tax cuts for the wealthy to expire but republi
that's far higher than obama's original proposal. they have yet to agree to suspend spending cuts. the democrat led senate is expected to pass the bill on new year's eve. the republican led house says it will not vote on the bill before the midnight deadline. members of congress are expected to work on a stop gap measure to prevent any serious fiscal impact. the fiscal cliff has become a term many people even outside thfinancial markets are talking about. if the u.s. economy falls off this...
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Dec 28, 2012
12/12
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FBC
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the big question is, president obama's increased spending a lot over the past four years. how will he get the revenue from that? is raising tax rates on the so-called rich enough to do it? no, it's not. it doesn't bring in enough money. one the ways he might do it is to squeeze the energy companies a little more. coming up, ceo of southern company, one of the most important guys in the universe will join us right here to say if he expects the big squeeze from the white house. >> i'm david asman with your fox business brief and here east one crisis averted anyway. unions representing dock workers and shippers reached a agreement delaying a strike that could have cripple the u.s. economy. longshoremen and maritime alliance agreed to postpone for 30 days. >>> this would mark the best year for the auto industry since 2007, but experts say the gains made in december could be overshadowed in january because of concerns about the fiscal cliff. >>> the chinese government announcing stiff new rules and requiring users to provide real names to service providers. the move place as gr
the big question is, president obama's increased spending a lot over the past four years. how will he get the revenue from that? is raising tax rates on the so-called rich enough to do it? no, it's not. it doesn't bring in enough money. one the ways he might do it is to squeeze the energy companies a little more. coming up, ceo of southern company, one of the most important guys in the universe will join us right here to say if he expects the big squeeze from the white house. >> i'm david...
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Jan 1, 2013
01/13
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KCSMMHZ
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is not out of the woods yet. >> president obama said the agreement fell short of what both sides wanted but that it was the right thing to do for the country. >> senators passed the bill with 89-8. after months of wrangling, lawmakers ended their deadlock. >> i know i can speak for my conference when i say we don't think taxes should go up on anyone. but if we knew if we did nothing they would be going up on everyone. >> the bill heads to the republican controlled house of representatives and could come to a vote later today but it is far from certain that it will pass. president obama urged members to back the deal though it falls short of what he originally sought. >> my preference would have been to solve all of the problems in the context of a larger agreement, bigger deal, a grand bargain, whatever you want to call it that solves our deficit problems in a responsible way. does not just deal with the taxes but deals with the spending so that we can put it behind us and focus on just growing our economy. >> the plan would permanently raise taxes on households making more than $450,00
is not out of the woods yet. >> president obama said the agreement fell short of what both sides wanted but that it was the right thing to do for the country. >> senators passed the bill with 89-8. after months of wrangling, lawmakers ended their deadlock. >> i know i can speak for my conference when i say we don't think taxes should go up on anyone. but if we knew if we did nothing they would be going up on everyone. >> the bill heads to the republican controlled house...
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Dec 26, 2012
12/12
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KBCW
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the country is a week away from the tax increases and deep spending cuts that will be triggered without an agreement. the next move will likely fall on democratic senate leader harry reid who is crafting a package on his own. it would extend the bush era tax cuts for households making less than $250,000 a year including the short-term spending cuts. >>> and it is a scary statistic for the recent college graduates. the number of young californians with the degrees working in restaurants or the retail, they have nearly doubled over the last five years. cbs 5 reporter tells us that these are the same people who have expensive college loans to pay off. >> reporter: when you're shopping this holiday season, or eating out, take a look around. you might notice a lot more people under 30 working those jobs. according to the census bureau, there are about 260,000 young adults with college degrees in california, taking work and food service in retail because they can't get anything else. >> it's pretty sad now, yeah. >> reporter: graduating with a computer science degree. >> i graduated with my b
the country is a week away from the tax increases and deep spending cuts that will be triggered without an agreement. the next move will likely fall on democratic senate leader harry reid who is crafting a package on his own. it would extend the bush era tax cuts for households making less than $250,000 a year including the short-term spending cuts. >>> and it is a scary statistic for the recent college graduates. the number of young californians with the degrees working in restaurants...
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Dec 30, 2012
12/12
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WUSA
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the obama administration has been keen to reform the nation's export control structure to boost exports as it curbs domestic military spending but getting that through a recalcitrant congress has been challenging. critics fear american technology into the wrong hands. that's a valid concern but blocking sales and strangling america's space industry is an even bigger threat. if you are not selling anything you are not controlling anything, either. working together republicans and democrats solved this problem. they should continue the system and tackle the nation's other problems. thanks for joining us for "this week in defense news." i'm vago muradian. you can watch on-line it at defensenewstv.com. before we go i would like to wish everybody a very happy new year. i'll be back next year at the same time. until then, have a great week. >>> patient centered research, is it more than a slogan. patient leaders rate their progress. i'm steve usdin. welcome to "biocentury this week." >>> your trusted source for biotechnology information and analysis, "biocentury this week." >>> it has blazed
the obama administration has been keen to reform the nation's export control structure to boost exports as it curbs domestic military spending but getting that through a recalcitrant congress has been challenging. critics fear american technology into the wrong hands. that's a valid concern but blocking sales and strangling america's space industry is an even bigger threat. if you are not selling anything you are not controlling anything, either. working together republicans and democrats...
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Dec 29, 2012
12/12
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WMAR
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many blame president obama for the collapse of a bigger deal that would reduce spending and cut the country's debt. >> it is the president's responsibility to lay out a plan and to bring people together. >> house members don't get back here tonight sunday night. >>> president david wilson may be getting a remove of sorts after a lengthy public meeting months announced it is negotiating to keep him on until june 2014. his current contract expires in june of 2013. it was a rough year with two shootings on campus. >>> the russian president signed a law banning americans from adopting russian children. a law that people say is heartbreaking and punishes no one but the children. one family says he just signed a death notice for thousands of orphans in his country. >> reporter: you may have heard of her, she won three gold medals and a bronze in this past summer's paraolympic games in london. reaching goals she would have never reached if she had not been adopted at age 6 by her mother deborah. >> she did not have a wheelchair. she crawled on the floor. she was very anemic and was not expected to l
many blame president obama for the collapse of a bigger deal that would reduce spending and cut the country's debt. >> it is the president's responsibility to lay out a plan and to bring people together. >> house members don't get back here tonight sunday night. >>> president david wilson may be getting a remove of sorts after a lengthy public meeting months announced it is negotiating to keep him on until june 2014. his current contract expires in june of 2013. it was a...
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Dec 26, 2012
12/12
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KPIX
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his plan would also include short-term spending cuts instead of long-term deals that have been sought. president obama will cut short his hawaiian vacation around return to washington today to take part in those negotiations. christmas day the president and first lady met with servicemembers and families. the president told marines he was grateful for their service and posed for pictures. >>> more bay area headlines. one of santa's helpers put in a little overtime on christmas but instead of a sleigh and reindeer, san jose postal worker nancy ray used this a mail truck. ray is carrying on a decades old tradition of delivering packages to people on christmas. this is the third year ray has put her sant suit. she started working in the san jose post office 20 years ago and said this is a job she always wanted. >> some books, two things of presents. >> a relatively new christmas tradition continues in richmond as hundreds showed up at the community center. volunteers handed out food, presents and warm clothes to the city's less fortunate. the program known as christmas in richmond was st
his plan would also include short-term spending cuts instead of long-term deals that have been sought. president obama will cut short his hawaiian vacation around return to washington today to take part in those negotiations. christmas day the president and first lady met with servicemembers and families. the president told marines he was grateful for their service and posed for pictures. >>> more bay area headlines. one of santa's helpers put in a little overtime on christmas but...
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Dec 29, 2012
12/12
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FBC
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again, in an afternoon white house meeting president obama pitch a debt plan he had outlined a week ago, prevent a tax increase for income of less than to an effective thousand dollars per year and extend long-term unemployment benefits. senate leaders are using that framework to try to craft a proposal to pass both houses of congress. aides say it would likely increase the threshold for tax increases, reversing massive pay cut from medicare doctors, and elections of millions of americans to avoid paying the alternative minimum tax. an increase in the debt ceiling is not part of the discussion. that is significant development for house republicans who won any increase in the borrowing limit it accompanied by an equal amount in spending cuts taking the debt ceiling of the table making it much easier for the scaled-down version to be negotiated. from here senate leaders will try to secure an agreement by sunday morning. if so, democrats and republicans will try to sell its house and senate members. if they can do that the voting begins. there is some progress report this evening, though t
again, in an afternoon white house meeting president obama pitch a debt plan he had outlined a week ago, prevent a tax increase for income of less than to an effective thousand dollars per year and extend long-term unemployment benefits. senate leaders are using that framework to try to craft a proposal to pass both houses of congress. aides say it would likely increase the threshold for tax increases, reversing massive pay cut from medicare doctors, and elections of millions of americans to...
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Dec 30, 2012
12/12
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FBC
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if we don't act now my generation will spend our prime years being servants of the government, and that's not right. tom: i hope you do. i give you one more step before you go. the amount of interest that we pay on the debt that china owes, owns of our debt is enough to pay for their entire military for the whole year. we are basically funding with that the debt china military. thank you. i appreciate you coming on. well, forget the fiscal cliff. washington might be sending cows progressive claims. this is flo. i need you. i feel so alone. but you're not alone. i knew you'd come. like i could stay away. you know i can't do is without you. you'll never have to. you're always there for me. shh! i'll get you a rental car. i could also use an umbrella. fall in love with progressive's claims service. i don't have to leave my desk and get up and go to the post office anymore. [ male announcer ] with stamps.com you can print real u.s. postage for all your letters and packages. i have exactly the amount of postage i need, the instant i need it. can you print only stamps? no... first class. priori
if we don't act now my generation will spend our prime years being servants of the government, and that's not right. tom: i hope you do. i give you one more step before you go. the amount of interest that we pay on the debt that china owes, owns of our debt is enough to pay for their entire military for the whole year. we are basically funding with that the debt china military. thank you. i appreciate you coming on. well, forget the fiscal cliff. washington might be sending cows progressive...
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Dec 31, 2012
12/12
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FBC
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of something very close to a trillion dollars of defense cuts the first obama term. the extra cuts really go well beyond muscle. we are into bone. defense secretary panetta has made that clear. in the president's own defense secretary saying that our defense capabilities are being cut unacceptably, you know that is bad. and let me just say, this is not a matter of been counting. this goes to the ability of america to sustain the international order that our economy rests on. you're not going to have sustained prosperity in the united states if the united states can provide whatever minimal order there is in the world today. that's the direction we're heading in. gerri: what's going to happen as a practical matter, laos, people, a machine. what will get cut? >> if the sequestration goes through over the long term, obviously the worst thing that will happen will be our inability to procure the sophisticated and expensive weapons system that we need. in the short term on sure there will try personnel layoffs to mitigate the effect of it, but it is unpleasant either way.
of something very close to a trillion dollars of defense cuts the first obama term. the extra cuts really go well beyond muscle. we are into bone. defense secretary panetta has made that clear. in the president's own defense secretary saying that our defense capabilities are being cut unacceptably, you know that is bad. and let me just say, this is not a matter of been counting. this goes to the ability of america to sustain the international order that our economy rests on. you're not going to...
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Jan 1, 2013
01/13
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LINKTV
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congress will not vote by the midnight deadline to avoid spending cuts and tax hikes due on january 1. talks will resume on tuesday. earlier, barack obama said an agreement to avoid this was in sight. >> for now, our most immediate priority is to stop taxes from going up for middle-class families starting tomorrow. i think that is a modest goal that we can accomplish. democrats and republicans in congress have to get this done, but they are not there yet. they are close, but they are not there yet, and one thing we can count on with respect to this congress, if there is even one second left before you have to do what you need to do, they will use that second. >> it is too bad he does not spend as much time solving problems as he does with campaigns and pep rallies. i will say i am very disappointed with what the president had to say. i want to go on record to say that it is unacceptable to pay for the sequestered revenues. >> we are joined live from washington, d.c. if this deal is so close, why has congress not signed off on it? >> well, you always have to remember there are two hous
congress will not vote by the midnight deadline to avoid spending cuts and tax hikes due on january 1. talks will resume on tuesday. earlier, barack obama said an agreement to avoid this was in sight. >> for now, our most immediate priority is to stop taxes from going up for middle-class families starting tomorrow. i think that is a modest goal that we can accomplish. democrats and republicans in congress have to get this done, but they are not there yet. they are close, but they are not...
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Dec 24, 2012
12/12
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CNNW
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. >> why have you been so consistently supportive of obama? >> i can't even imagine thinking about what would happen to the supreme court if a republican were the president. you know? i mean, citizens united is a horrible thing people can spend and waste this amount of money on elections? think of the people that could benefit from that money. >> there have been two elections since i have been in america. two elections where one party has had far more financial firepower. one was with meg whitman and one was with romney. the most money lost. what does that tell you? >> the people are getting smarter. they're going, i don't like this amount of money spent on this election. there should be a given -- campaign finance reform is very important. i hope somebody does something about it. you should have a given amount, equal amount, equal air time. that's it. you know? that idea of corporations being people, no, no. this is a country of, by and for the people. not of, by and for the corporation. you know? it's like because i'm so against gmos, the mo
. >> why have you been so consistently supportive of obama? >> i can't even imagine thinking about what would happen to the supreme court if a republican were the president. you know? i mean, citizens united is a horrible thing people can spend and waste this amount of money on elections? think of the people that could benefit from that money. >> there have been two elections since i have been in america. two elections where one party has had far more financial firepower. one...
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Dec 24, 2012
12/12
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KTVU
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moments after president obama was declared the victor, the money struggle in washington stole the spotlight as lawmakers debated over how to avert the fiscal cliff. mother nature took a toll on several parts of the country this year. superstorm sandy ripped through the northeast in late october, leaving a trail of damage along the way. the storm racked up damage of around $60 billion, making it the second most expensive storm ever for the u.s., following hurricane katrina. the storm destroyed houses and businesses on the east coast, leaving millions without power. just months earlier, crop prices shot up following a massive drought that hit the midwest and some northern states. weeks without rain sent corn and soybean prices sky-high. it was estimated that the drought was the worst in nearly a quarter of a century. 2012 was not without its controvesies. trading scandals rocked the news, highlighted by jpmorgan chase. the big bank lost more than $2 billion in what was called "a trading debacle." ceo jamie dimon took a trip to capitol hill for a testimony where he told senators that the indus
moments after president obama was declared the victor, the money struggle in washington stole the spotlight as lawmakers debated over how to avert the fiscal cliff. mother nature took a toll on several parts of the country this year. superstorm sandy ripped through the northeast in late october, leaving a trail of damage along the way. the storm racked up damage of around $60 billion, making it the second most expensive storm ever for the u.s., following hurricane katrina. the storm destroyed...
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Dec 27, 2012
12/12
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FBC
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these are automatic spending cuts. the obama doesn't want them. this is leverage point for republicans. adam: you're an economist. we're journalists and we're only good for free drinks. are we going over the cliff? >> i think it is undeniable the economy falls into recession if we do go over the fiscal cliff. even chairman bernanke was very clear on this point telling everyone if the economy goes over the fiscal cliff even the fed itself does not have you have enough tools to go over against the impact. in terms of lack of investment and in terms of businesses closing their doors and remaining sidelined still for quarters going into 2013. adam: well, lindsey, you again are an economist. which is worse, the spending cut from the sequestration or the tax increase? which hits us, 310 million of us are american citizens. which hits us worse? >> well generally when we talk about the difference between spending cuts or tax increases you have to think of taxes as having 1 1/2 times the impact because what that does, there is a trickle down, in fact. we p
these are automatic spending cuts. the obama doesn't want them. this is leverage point for republicans. adam: you're an economist. we're journalists and we're only good for free drinks. are we going over the cliff? >> i think it is undeniable the economy falls into recession if we do go over the fiscal cliff. even chairman bernanke was very clear on this point telling everyone if the economy goes over the fiscal cliff even the fed itself does not have you have enough tools to go over...
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Dec 26, 2012
12/12
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KPIX
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the country is a week away from tax increases and deep spending cuts that will be triggered without an agreement. the next move will likely fall on democratic senate leader harry reid. >>> it's a scary statistic for recent college graduates. the number of young californians with degrees working in restaurants or retail has nearly doubled over the last five years. grace lee tells us these are the same people who have expensive college loans to pay off. >> reporter: when you're shopping this holiday season or eating out, take a look around. you might notice a lot more people under 30 working those jobs. according to the census bureau there are about 260,000 young adults with college degrees in california taking work in food service and retail because they can't get anything else. >> pretty sad now. >> reporter: roary graduated with a computer science degree. >> i graduated with my bachelors in 2009 and my first job was at a retail store. at first it was kind of embarrassing. >> i couldn't get a job in the field i wanted to. i figured i have to go to law school to get where i wanted to be
the country is a week away from tax increases and deep spending cuts that will be triggered without an agreement. the next move will likely fall on democratic senate leader harry reid. >>> it's a scary statistic for recent college graduates. the number of young californians with degrees working in restaurants or retail has nearly doubled over the last five years. grace lee tells us these are the same people who have expensive college loans to pay off. >> reporter: when you're...
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Dec 28, 2012
12/12
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president barack obama has broken off his christmas vacation to resume talks on the so-called fiscal cliff, taxes and spending cuts unless democrats and republicans reach a deal by new year's eve. >> nearly all the major players in those negotiations are starting to agree on one thing, and that is that a deal is virtually impossible by that deadline. senior officials say there is little hope of a grand bargain to shave trillions of dollars off of america's mountain of debt. >> applause for the bell at the start of the trading day is a daily ritual at the new york stock exchange, despite the enthusiasm, traders are keeping an anxious eye on share prices. the fiscal cliff is on everyone's mind. u.s. treasury secretary timothy geithner has warned that his department will need to take extraordinary measures to postpone the upcoming government defaults. he plans adjustments to the national budget that would give the u.s. two months of grace. president barack obama has said he is still hopeful that a resolution can be reached this year. he cut short his vacation in hawaii to restart negoti
president barack obama has broken off his christmas vacation to resume talks on the so-called fiscal cliff, taxes and spending cuts unless democrats and republicans reach a deal by new year's eve. >> nearly all the major players in those negotiations are starting to agree on one thing, and that is that a deal is virtually impossible by that deadline. senior officials say there is little hope of a grand bargain to shave trillions of dollars off of america's mountain of debt. >>...
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Dec 26, 2012
12/12
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dramatic spending cuts will kick in. president obama and congress will be back from vacation tomorrow. but will anything get done? >>> plus, wild winter weather sweeping through the country. we'll bring you the latest details on which part of the u.s. could be hit next. cnbc's "worldwide exchange" starts now. >>> and welcome to a special edition of reside worldwide. ross andcle reoff today for boxes day in -- kelly are off today for boxing day. for now, you is us. >> we'll start with a brief check on the markets. energy and metals are trading higher now, wtis up about 55 cents. brent crude up 65 cents. also want to check in on the gold price, as well. gold right now down about slightly under the flat line there, 1,-658. well below the 1,700 mark. the cme globex has been closed for christmas. it's going to reopen at 6:00 a.m. eastern time. that goes for treasuries and the foreign exchange market, as well. >> as for action in the overseas markets, the u.k. is closed today for boxing day as are some of the former brish colo
dramatic spending cuts will kick in. president obama and congress will be back from vacation tomorrow. but will anything get done? >>> plus, wild winter weather sweeping through the country. we'll bring you the latest details on which part of the u.s. could be hit next. cnbc's "worldwide exchange" starts now. >>> and welcome to a special edition of reside worldwide. ross andcle reoff today for boxes day in -- kelly are off today for boxing day. for now, you is us....
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Dec 27, 2012
12/12
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obama's spending being higher than the bush years. that is not true. the deficit which increases our debt grew so much under obama because he put both wars into the budget. george bush kept them out of the budget, was not paying for them, so things looked good. in the first few years of the obama administration, he created more jobs than george bush did in eight years. george bush's comment was the surpluses are for spending. he put us in massive debt, left it on obama. these people sit here and watch these idiots on tv say these things are not true. and then they go and push based on what they're hearing instead of looking into the fact of the matter. host: mr. forbes? guest: i did make mention that spending did increase dramatically under george bush. no matter how you account for the wars, domestic spending under president obama increased very substantially to the point that it is the highest it has been without a world war. that is why we're getting these massive deficits today. we have never had anything like this without a major war. you can righ
obama's spending being higher than the bush years. that is not true. the deficit which increases our debt grew so much under obama because he put both wars into the budget. george bush kept them out of the budget, was not paying for them, so things looked good. in the first few years of the obama administration, he created more jobs than george bush did in eight years. george bush's comment was the surpluses are for spending. he put us in massive debt, left it on obama. these people sit here...
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Dec 24, 2012
12/12
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president obama spending holidays in beautiful hawaii where reports now surfaced where he is looking to strike a smaller fiscal deal that would extend tax cuts for the middle class but not tackling any spending cuts. chief white house correspondent ed henry is live in honolulu with more. ed, for the first time, people like joe lieberman are saying i really think we'll go over the cliff. what do you hear? >> reporter: it's a real possibility, you're right. we're a week out. people on both sides have been talking this thing to death. it might need a christmas miracle at this point to avoid going off the cliff. the president scaled back plan basically would extend unemmoment benefits for two million people who will lose them a week after christmas if there is no deal. he also wants to extend tax cuts for 98% of americans. you heard him talk about that again and again. that level of $250,000 or less. the republicans have not afreed to that on the hill obviously. when you talk to folks like senator lindsey graham, they say the big issue is not taxes, it is spending cuts. take a listen. >>
president obama spending holidays in beautiful hawaii where reports now surfaced where he is looking to strike a smaller fiscal deal that would extend tax cuts for the middle class but not tackling any spending cuts. chief white house correspondent ed henry is live in honolulu with more. ed, for the first time, people like joe lieberman are saying i really think we'll go over the cliff. what do you hear? >> reporter: it's a real possibility, you're right. we're a week out. people on both...
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Dec 30, 2012
12/12
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do you want the government to do nothing about spending? are you happy with obama care? most would say no. but in the end the choice was between a president who said things aren't great, but i'm going to still try to make them better, and a guy who he painted as not having a plan and not identifying with the average wants and needs of most middle class americans and in the end people decided to stick with the devil they knew rather than the one they didn't. >> so the republican defeat was big, but it wasn't overwhelming in the sense of a repute yags, in your view, of the republican platform or their agenda. >> no, and i think the reason -- look. this country did have the opportunity to once again hand controlled government to democrats. everyone in the house was up for re-election, and yet they continued to givene republicans the majority. they like divided government, and they have to look at the states who elected the very conservative governors who are doing the exact opposite of what barack obama is doing at the federal level. jay dan, there are real implications, co
do you want the government to do nothing about spending? are you happy with obama care? most would say no. but in the end the choice was between a president who said things aren't great, but i'm going to still try to make them better, and a guy who he painted as not having a plan and not identifying with the average wants and needs of most middle class americans and in the end people decided to stick with the devil they knew rather than the one they didn't. >> so the republican defeat was...
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Dec 24, 2012
12/12
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president obama can't raise enough money through his tax plans to cover all the spending. that means he could resume other ways for the revenue to come in. will a carbon tax be among them? joining us now from the american action forum, sam, we know the president wants this thing. he tried desperately, even with democrats holding both houses of congress, however, he couldn't get it. will he try to pursue it in his first year of the second term? >> well, there's certainly a lot of revenue out there. a lot of projections are, if carbon is at $20 per ton of carbon, it could generate roughly a trillion dollars over the next ten years, of course, that figure of $20 would increase, but i think it's pretty tough for republicans to swallow another trillion dollars in revenue from a carbon tax, so i don't think it's very likely to get 60 votes in the senate or for speaker boehner from ohio which is a big coal producing area, which would be hit the hardest by a carbon tax, i don't think it's likely he would bring that up for a vote. david: here is another scenario though. the preside
president obama can't raise enough money through his tax plans to cover all the spending. that means he could resume other ways for the revenue to come in. will a carbon tax be among them? joining us now from the american action forum, sam, we know the president wants this thing. he tried desperately, even with democrats holding both houses of congress, however, he couldn't get it. will he try to pursue it in his first year of the second term? >> well, there's certainly a lot of revenue...
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Dec 29, 2012
12/12
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here now is blake zeff, former obama campaign aide and washington editor. robert, have you heard anything in the last couple of hours that suggests to you that somehow by monday mitch mcconnell and harry reid will sing kumbaya, pass something in the senate that also passes the house? >> i'm not so sure they'll be sing kumbaya, but the real story today is that there's movement on capitol hill. reid and mcconnell come out of that white house meeting and they're ready to haggle over some differences. what i expect to come to the floor is what president obama's talking about a 250 threshold for rates, maybe an amt attached to it and maybe have unemployment attached to it, but that's it. that's what the president wants at the end of the day. the question for mccon cell this, can he raise that threshold now at the 11th hour from president obama's $250,000 perhaps to $300,000 or $400,000. >> and just concede on spending cuts. >> at this point the republicans are like a prizefighter on the ropes and they're not in a great negotiating position and the caucus walked
here now is blake zeff, former obama campaign aide and washington editor. robert, have you heard anything in the last couple of hours that suggests to you that somehow by monday mitch mcconnell and harry reid will sing kumbaya, pass something in the senate that also passes the house? >> i'm not so sure they'll be sing kumbaya, but the real story today is that there's movement on capitol hill. reid and mcconnell come out of that white house meeting and they're ready to haggle over some...
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Dec 27, 2012
12/12
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they are locked in a showdown over taxes and spending and the average family is caught in the middle. in washington, craig boswell, fox news. >> doug: neil abercrombie is minutes away to saying who will fill the seat by the passing of inoue. >>> 2012 brought more fighting and bloodshed to syria. will 2013 be different? it will be after the short brbrbrbrbrbrbr >>> in the name of god, i major general commander of the military police in syria declare my defection from the regime to army and joining the people's revolution for the following reasons -- >> the army derailed from the basic mission of protecting the people and it has become a game for killing and destruction. >> doug: denouncing his defection, as the rebels continue to gain ground. we are looking at death toll more than a year of 44,000 people. terrible i strosties from both sides -- atrocities from both sides. on top of that, syria's stampest ally russia appears to be getting a little bit of cold feet in relationship there. russian foreign minister labrovov announcing to reporters that russia is not inviting assad to come h
they are locked in a showdown over taxes and spending and the average family is caught in the middle. in washington, craig boswell, fox news. >> doug: neil abercrombie is minutes away to saying who will fill the seat by the passing of inoue. >>> 2012 brought more fighting and bloodshed to syria. will 2013 be different? it will be after the short brbrbrbrbrbrbr >>> in the name of god, i major general commander of the military police in syria declare my defection from the...
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Dec 27, 2012
12/12
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when you study the obama budget that would increase to 32%. that's where the problem has to i am emanate from. the spending side of our budget is 62% of what we spend money on. it's not just about defense or discretionary. >> is there any indication the president's deal, that he may come back with, will address spending? i haven't heard substantial spending cuts out of any deals on the left. >> absolutely you are not hearing that whatsoever. when i listen to senator chuck schumer say the president ran on raising taxes and says he won, we should do that, i have to tell you i'm not such and idiotic person to follow someone off into the abyss. this is a political gimmick the president ran on. he did win the election but when you look at the house, the republicans maintain their majority there and that's where revenue bills emanate from. >> we have to leave it there. always great to have you. >> happy new year. >> you too. amid all this fighting in washington, my next guest has a plan to fight the nation's debt and it doesn't rely on congress at a
when you study the obama budget that would increase to 32%. that's where the problem has to i am emanate from. the spending side of our budget is 62% of what we spend money on. it's not just about defense or discretionary. >> is there any indication the president's deal, that he may come back with, will address spending? i haven't heard substantial spending cuts out of any deals on the left. >> absolutely you are not hearing that whatsoever. when i listen to senator chuck schumer...